Ethereum's Bullish Future: Pectra Upgrade and Investor Confidence

Whales" Accumulate ETH: A Sign of Confidence

Since March 2025, large investors' Ethereum (ETH) holdings have accumulated by over 22%, growing from 15.54 million ETH on March 10 to 19.04 million ETH on May 3, through declines in price and unrealized losses. The accumulation is a reflection of extremely high confidence in the long-term value and ecosystem of Ethereum, as investors have faith shown through holding during price declines. Experts feel that this optimistic tone, coupled with upcoming upgrades like Pectra and institutional buying, could initiate a sizeable rebound, which often is followed by a bull market phase as seasoned investors position themselves for potential gains

 Pectra Upgrade: A Game Changer for Ethereum

The Pectra upgrade, which takes place on May 7, 2025, is Ethereum's most ambitious network upgrade to date, merging the Prague execution layer hard fork with the Electra consensus layer update. It brings 11 Ethereum Improvement Proposals (EIPs) for scalability, staking, and usability.

ETH/USD Technical Outlook: Bullish Above $1875

ETHUSD is trading in a narrow range between $1875 and $1751 for the past six days. It hit an intraday high of $1850.94 and is currently trading around $1833.25.

Overall trend remains bullish as long as support of $1500 remains intact. The key near-term resistance is at $1875 (trend line joining $4109 and $3746) any breach above targets $2000/$2300/ $2500/$2770/$3000/$3400/$3600/$3800/$4000. A robust bullish trend will only materialize above $4100.

Immediate support is around $1675. Any violation below will drag the price down to $1620/$1500/$1200/$1000. A breach below $1000 could see Ethereum plummet to $800/$500.

It is good to buy above $1875 with SL around $1500 for a TP of $2770/$3000.